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Abacus Finance Provides Investment Financing to Lineage Capital

March 27, 2018, 08:00 AM
Filed Under: Investment Financing

Abacus Finance Group, LLC (Abacus), a New York-based direct lending company that provides cash-flow senior financing for private equity-sponsored, lower-middle market companies, announced that it served as Administrative Agent and Sole Lender for senior secured credit facilities to support Lineage’s growth investment in Diamond Mowers.

Based in Sioux Falls, South Dakota, and founded in 2000, Diamond Mowers is a leading manufacturer of industrial mowing, mulching, and brush cutting equipment for the municipal, skid-steer and excavator markets. Founded in 2003, Lineage Capital is a Boston-based private equity firm specializing in the recapitalization of family-controlled and owner-managed businesses in the lower-middle market.  

“Once again, the Abacus team proved to be flexible in transaction structuring, a reflection of its total focus on meeting borrowers’ needs,” said T. Brook Parker, a Partner with Lineage. “Living up to their reputation, the due diligence was thorough and seamless, they provided assurance of close early on, and moved quickly – all of which was critical in this transaction.”

“This was our second transaction with Lineage, and they again brought us a highly attractive niche company with an impressive portfolio of products and growth opportunities,” said Tim Clifford, President and CEO of Abacus. “This transaction,” noted Abacus Senior Vice President Eric Petersen, “is another example of how Lineage’s investment strategy matches up well with our flexibility and our focus on lower-middle market companies – key ingredients of what we call our Total Partnership Approach™.”

Abacus team members involved in the transaction included Eric Petersen and Joseph Lee. Legal counsel was provided to Abacus by Goulston & Storrs, PC.


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